APG Asset Management N.V. Reduces Holdings in Cigna Group $CI

Key Points

• APG Asset Management N.V. reduced its stake in Cigna Group by 5.6%, selling 12,288 shares during the first quarter, now owning about 0.08% of the company worth $62.66 million.
• Several analysts maintain a positive outlook on Cigna Group, with Royal Bank of Canada giving an "outperform" rating and a target price of $371.00, while Guggenheim adjusted their target price down to $350.00.
• Cigna Group reported $7.20 earnings per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $1.51 to be paid on September 18th.

APG Asset Management N.V. lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,730 shares of the health services provider's stock after selling 12,288 shares during the period. APG Asset Management N.V. owned about 0.08% of Cigna Group worth $62,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Nuveen LLC purchased a new position in Cigna Group during the 1st quarter worth $727,905,000. GAMMA Investing LLC increased its stake in Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after buying an additional 1,771,613 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cigna Group by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock worth $3,966,690,000 after buying an additional 1,094,327 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after buying an additional 865,092 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after acquiring an additional 600,300 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and set a $350.00 target price (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Truist Financial increased their target price on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Piper Sandler lifted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Barclays reduced their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $374.82.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Cigna Group Price Performance

Shares of Cigna Group stock traded down $0.38 during trading on Tuesday, hitting $300.38. The stock had a trading volume of 2,487,036 shares, compared to its average volume of 2,118,207. The firm has a market cap of $80.18 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 0.88 and a beta of 0.47. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The business's 50-day moving average is $300.64 and its 200 day moving average is $311.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's dividend payout ratio is 32.97%.

Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.